Change euros to dollars on Revolut or wait

M

MMG1987

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Hi all,

Does anyone who knows a bit on financial trends know how the dollar against the euro might go in the next few months? I am going to States in a few months and created a holiday fund on Revolut to put savings into for it. What I am wondering should I leave that vault in Euros or change it to dollars and change what is already in there, or is there a a likelihood the exchange rate would be become more favourable for moving Euro to dollars at a later date?

Thanks.
 
The general principle is that trying to time markets is a mug's game. Me, I'd hold the Euros until the rate is reasonably attractive and then convert it, while bearing in mind the possibility that there might be no favourable time to do so.
 
There's also the risk that you exchange to dollars today and have to cancel your trip and you're stuck with dollars you don't need with the FX rate having gone against you.


I would wait until you are boarding the plan to make the change. The only thing that is certain here is Revolut's fees. :)
 
It is all in your thinking about future rate - if you believe they while go up, then it is"reasonable" to wait, if you believe they will go down, then it is "reasonable" to convert now

At the end of the day you are depending on exchange rate changes and study after study has shown that no one can predict future exchange rates with any degree of certainty - so this is just gambling
 
jpd said:
It is all in your thinking about future rate - if you believe they while go up, then it is"reasonable" to wait, if you believe they will go down, then it is "reasonable" to convert now

At the end of the day you are depending on exchange rate changes and study after study has shown that no one can predict future exchange rates with any degree of certainty - so this is just gambling
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No, what I meant was if the rate today is better for example than it was yesterday and better than it usually is, it should be more attractive to convert today compared to say yesterday. But this of course is a necessarily simple and crude substitute for gambling blindly.
 
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